A Wholly-Owned Subsidiary's Revalued Net Assets at the Date of Acquisition

Multiple Choice

A wholly-owned subsidiary's revalued net assets at the date of acquisition consist of indefinite life identifiable intangible assets valued at $500,000 at the date of acquisition. Impairment of these intangibles as of the beginning of the current year is $50,000, and impairment testing for the current year reveals $200,000 in additional impairment on these intangibles. Consolidation eliminating entry (O) at the end of the current year reduces identifiable intangible assets by:

A) $250,000.
B) $500,000.
C) $200,000.
D) $50,000.